Dynamic Pricing vs Smart Pricing vs Self-Managed.
Find Out how to increase your revenue by 40% more.
Are you charging the right rate for your Airbnb Property?
Whether you are experienced in short term management or a beginner, you will find that getting it right with the price is a challenging process. It’s not uncommon for people to lose out on revenue in the vacation rental industry.
Even with a high-occupancy rate many properties miss out on profits only because of their pricing.
It is important to keep in mind, that the best price for your home is always changing.
If you think your job ends at finding the correct price and applying it on your listing for the rest of the year, you will be missing out on approximately 40% revenue.
What is Flat Pricing?
Many Airbnb hosts, mainly new and inexperienced ones, set a baseline for their property and forget about it. This is the most common way to miss out on bookings.
Examples of hosts who charge flat pricing and how it will affect them-
This host will have a great summer and earn revenue. But the rest of the year his property would be empty because it would be overpriced. This will lead to low occupancy rate throughout the rest of the year.
This host has a unit in downtown and is booked throughout the year. But is still missing out on huge revenue because he could be charging a higher rate in the summer.
Hosts need to consider various factors before setting a price on their property: